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CoreFlow Closes $3.2M Financing led by Ofer Hi-Tech With Dagesh

Third Round of Investment to Fund R&D and Sales & Marketing Expansion

YOKNEAM, Israel, May 1 /PRNewswire/ -- CoreFlow Ltd. "CoreFlow", a manufacturer of aeromechanical systems for the Microelectronic Industries (primarily Flat Panel Display (FPD), Solar cell and Semiconductor), has completed a $3.2 million round of financing led by Ofer Hi-Tech, with the participation of Dagesh. Through this investment, Ofer Hi-Tech becomes the main shareholder of the company.

Eyal Shpilberg, recently nominated CEO of CoreFlow, is pleased with the investment: "This fund raising is a vote of confidence by CoreFlow's shareholders in our unique technology. We believe that the company is well positioned to expand its sales in the existing markets and penetrate new segments such as the fast growing solar cell market."

CoreFlow also reported on several recent business successes. The company has received several major orders in excess of US$ 1M for the fast-growing Solar cell market. Additional signs of growth reflect in a significant orders backlog from FPD equipment manufacturers, an industry that had suffered a slowdown during the past months. The growing backlog reflects both the industry's trust in the technology and products of CoreFlow, and the recovery of the industry.

Yuval Yassour, CTO and Co-founder of CoreFlow, states: "The sales to the solar cell market are an important milestone for CoreFlow. Our core technology and capabilities, initially developed for the FPD market, can be adapted to additional industries. The solar cell market opens a broad palette of new and exiting business opportunities to us, and we anticipate quick penetration to this market."

Shmulik Aran, VP of Ofer Hi-Tech, adds: "We have great trust in the technology of CoreFlow. The initial technology has proven itself in the FPD market by opening new opportunities for FABs and capital equipment manufacturers, allowing improved process efficiency, significant space and cost savings, and higher overall productivity. The current investment will enable CoreFlow's excellent team to develop the necessary adaptations for additional markets."

CoreFlow is a pioneer in the use of aeromechanical principles for precision substrate handling and transportation. CoreFlow was founded in 1999 by Yuval Yassour and Dr. Daniel Levin, within Naiot, Ofer Hi-Tech's Venture Accelerator. Its R&D team brings together multidisciplinary experience in fluid dynamics, mechanical engineering and capital equipment development. Today, CoreFlow's worldwide customer base includes many of the leading names in the FPD process and testing equipment market.

http://www.coreflow.com/

Ofer Hi-Tech is a leading investor in technology-based Israeli-related companies, from pre-seed through early-stage to publicly traded, operating in medical devices, communications, software, capital equipment, microelectronics and bio-technology, benefiting and building on the vast experience of its parent company, the Ofer Brothers Group. http://www.oferhitech.com/

Dagesh F.K. LTD is a leading turnkey systems supplier, providing excellence in integrated and electro-optical/mechanical systems. With its excellence in design & engineering, state of the art simultaneous 5 axis CNC machining, Dagesh provides complete solutions for leading companies in the fields of semiconductors, aerospace & medical. [email protected]

For additional information, please contact: Mr. Eyal Shpilberg, CEO, CoreFlow Ltd. Tel: +972-73-737-5126 Email: [email protected]

Coreflow Scientific Solutions

CONTACT: For additional information, please contact: Mr. Eyal
Shpilberg, CEO, CoreFlow Ltd., Tel: +972-73-737-5126, Email:
[email protected]

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